Average growth of IFAs will be 4% in 2013 according to a new report, but companies should be careful to retain profitability as they expand, an analyst said.
The research, conducted by analyst company Plimsoll Publishing, questioned 1,000 IFAs, and found that average growth in the sector was likely to be 4%. However, this growth was being driven by just one quarter of the IFA community - some 294 elite companies - who were likely to expand by an average of 30% this year. Smaller companies were likely to reduce in size by 4%. Chief analyst at Plimsoll, David Pattison, said that the growth gave "reason for cheer" but that these elite IFAs were growing at the expense of profitability. He said: "The key is to get growth and maintain the ...
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